In recent days, the crypto industry has received a lot of attention on social media. PepeCoin and $SPONGE, two of the most recent notable meme coins, have exploded in popularity.
What particularly makes $PEPE so intriguing is that it has amassed more than a 2000% return for its early investors after only a month of trading.
Meme coins are well-known for their price volatility and speculative nature. Support for a coin usually means more than the technical analysis used to predict its price. Despite the fact that Bitcoin (BTC) has recently taken a small dip, meme coins such as Pepe, $SPONGE, Wojak, and Milady Coin appear to have further growth potential.
(Latest $PEPE Price Graph. Source: CoinMarketCap)
According to some wild predictions, the price of PepeCoin could reach $1. This would be an incredible price increase, but it is unlikely to occur. Regardless of the future, those who invested in PepeCoin early on have seen life-changing results. However, the coin had been relatively stable before Pepe’s recent surge. Its popularity grew as word spread about its existence, which fueled positive sentiment even more.
$SPONGE Finds New Spotlight
With the introduction of PepeCoin, a number of other meme coins have exploded on Twitter. Meme coins such as $SPONGE, Wojak, and Milady Coin appear to have more room for growth.
The one that has received the most attention on social media is without a doubt $SPONGE. $SPONGE, a popular meme coin, pays homage to Spongebob while being unrelated to Nickelodeon. It nearly reached a market cap of $100 million in one week and increased 7 times in 5 days.
🧽 #SPONGERS!!! 🧽
Don't miss it!🔥
— $SPONGE (@spongeoneth) May 12, 2023
As a $PEPE rival, this coin has received a lot of attention. What makes $SPONGE so powerful is that Spongebob has global recognition and is an excellent mascot as a result.
$SPONGE has also gained access to multiple exchanges, making it more accessible to users. Unlike Pepe and other meme coins, $SPONGE has a very good and recognizable mascot and thus has a higher level of brand recognition. Its community growth is also impressive, with nearly 39,000 Twitter followers in just one week. $SPONGE’s future appears bright, making it an attractive investment opportunity.
In conclusion, meme coins such as Pepe and $SPONGE are extremely volatile, resulting in both profits and losses. Pepe has recently risen and has the potential for further growth, whereas $SPONGE has attracted attention for its connections, global reach, and early success. Investors should tread carefully with these coins.